Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,874 shares of the software maker’s stock after selling 3,832 shares during the quarter. Corebridge Financial Inc. owned about 0.16% of Commvault Systems worth $10,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVLT. Charles Schwab Investment Management Inc. increased its position in shares of Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after acquiring an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems in the third quarter valued at about $67,722,000. Point72 Hong Kong Ltd raised its stake in shares of Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock worth $3,603,000 after purchasing an additional 6,433 shares during the last quarter. Centiva Capital LP lifted its holdings in shares of Commvault Systems by 193.2% during the third quarter. Centiva Capital LP now owns 8,567 shares of the software maker’s stock worth $1,318,000 after purchasing an additional 5,645 shares during the period. Finally, Banco Santander S.A. purchased a new stake in Commvault Systems in the fourth quarter valued at approximately $833,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $165.24 on Thursday. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The company has a market capitalization of $7.27 billion, a P/E ratio of 43.37 and a beta of 0.62. The company has a 50 day simple moving average of $166.38 and a 200-day simple moving average of $161.31.

Analysts Set New Price Targets

Several brokerages have commented on CVLT. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. KeyCorp upped their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Finally, Cantor Fitzgerald lifted their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Commvault Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.44.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.